Form 4: L3Harris Technologies Director Acquires Shares as Part of Equity-Based Retainer

Christina L. Zamarro, a director of L3Harris Technologies, acquired 924 shares of common stock as part of a director share unit award.

Summary

• On April 19, 2024, Christina L. Zamarro, a director of L3Harris Technologies, acquired 924 shares of common stock.
• This acquisition was part of an equity-based retainer for non-employee directors.
• The director share units generally vest on April 19, 2025, subject to continued service.
• Upon vesting, the units will be settled in shares of common stock upon the reporting person's separation from service from the Issuer.
• Following the transaction, Zamarro beneficially owns 3,243.76 shares of L3Harris Technologies common stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The director's acquisition of shares indicates confidence in the company, but it's part of a standard compensation package.

Positives

• The acquisition of shares by a director demonstrates confidence in the company's future.

Future Outlook

The director share units will vest on April 19, 2025, subject to continued service, and will be settled in shares of common stock upon the reporting person's separation from service from the Issuer.

Industry Context

Director share unit awards are a common practice in corporate governance to align the interests of non-employee directors with those of the shareholders.

Comparison to Industry Standards

• Director compensation packages often include equity-based awards to incentivize long-term value creation.
• Companies like Lockheed Martin (LMT) and Northrop Grumman (NOC) also utilize similar equity-based compensation strategies for their directors.
• The vesting period of one year is fairly standard for these types of awards.

Stakeholder Impact

• The acquisition of shares by a director can positively influence shareholder confidence.

Key Dates